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A Yahoo logo is displayed on a monitor in this photo illustration in Encinitas, California, April 16, 2013.

Reuters/Mike Blake/File Photo

Verizon Communications Inc (VZ.N) did not submit the highest offer this week in the second round of bidding for Yahoo Inc’s (YHOO.O) core internet assets, according to a person familiar with the matter.

No committed financing was required for second-round bids, and Yahoo will put together in the coming days a new shortlist of bidders from which it will solicit binding offers, the person added.

Yahoo and Verizon offered no immediate comment.

Earlier on Thursday, CNBC reported, citing sources, that Verizon’s bid of more than $3.5 billion was topped by multiple offers at or above $5 billion. It did not name the parties that made those offers.